How do the owner-operator issues in transactional law affect the rest of your client base?
Minneapolis, MN Transportation Law Attorney, Jason Engkjer, discusses owner-operator issues in transportation law and how it affects his client base.
Email: [email protected]ommen.com
Phone: (612) 336-9303
So owner-operator contracts are somewhat of a unique animal in that they are governed by a set of regulations called Truth and Leasing Regulations. And for many, many, many years, and I would say rightfully so, owner-operator contracts were not compliant with truth and leasing regulations. And it opened up a number of transportation clients, motor carriers in particular, obviously, to different types of liability.
The purpose of these regulations was to ensure that you were dealing openly and honestly, the carrier deals openly and honestly with the owner-operator. How that can affect other clients is simply this. When you go through any contract, for that matter, look through it, revise it, think about it thoughtfully and critically. Don’t simply take a contract that comes across your desk, sign it, and then send it across the table. It’s always important, regardless of what industry that you’re in, to ensure that it’s compliant with regulations, as would be the case with owner-operators, but that you understand what you’re signing, you understand what you’re doing because that will inevitably have consequences later on in whatever relationship you have with whoever’s on the other side of the contract.